Binance, known as the world’s largest exchange by volume, is actively involved in various sectors. Its venture capital arm, YZi Labs, has long been dedicated to fostering promising crypto initiatives. Recently, the company announced a new investment in a venture that merges cryptocurrency with artificial intelligence.
Recent Developments at Binance
YZi Labs has invested in USDAI, a startup with a focus on artificial intelligence. This initiative, being a protocol providing hardware-supported financing for AI infrastructure, has recently unlocked a total value of 62 million dollars. Receiving investments from major firms like K3 Capital, Concrete, Euler, and Pendle, USDAI has been in the spotlight due to its operations in a highly trending area for the past two years.
Dana Hou, YZi Labs Investment Partner, stated,
“At YZi Labs, we support developers who integrate Web3 with real-world demand. USDai aligns incentives among depositors, borrowers, and infrastructure providers by transforming AI hardware financing into a DeFi-based yield product. What impressed me most was the founders’ relentless pursuit of real PMF and their determination to develop a commercially viable product.”
David Choi, co-founder of USDAI, expressed,
“We are laying a financial foundation for a new generation of entrepreneurs. Not everyone has a CFO or Wall Street connections, but they have machines and futures to build. We are thrilled that YZi Labs supports our mission.”
The Scale of YZi Labs
YZi Labs manages 10 billion dollars in crypto investments globally, having invested in over 300 projects to date. Out of these, 65 originated from the firm’s own incubation program.
